Both appear to be in longer-term uptrends.

The US federal government has re-opened and the bull market rages on. Politicians kicked the can down the road, and although less than ideal, this resolution served as an injection of confidence in Wall Street; the S&P 500 Index (INDEXSP:.INX) continued its winning streak this week, just barely peering above the closely watched 1,750 mark.

The recent rebound on Wall Street and scattered clouds of uncertainty have in turn prompted bargain shoppers to look for trending stocks at attractive levels. As such, below we take a look at two commodity stocks that are trending higher, but have slipped in the last few trading sessions, thereby offering an attractive opportunity to “buy on the dip” in the near future.

The stocks included here are rated as “buy” candidates for three reasons: First and foremost, each of these companies boasts a market cap upwards of $1 billion along with average daily trading volumes topping the $1 million mark, in an effort to weed out smaller, more volatile, trading prospects; second, these securities are trading above their 200-day moving averages, thereby implying they are in longer-term uptrends; thirdly, these stocks are also trading below their five-day moving averages, which makes them attractive for swing traders looking to buy in before they rebound. As always, investors of all experience levels are advised to use stop-loss orders and practice disciplined profit-taking techniques.

Gulfport Energy Corporation (NASDAQ:GPOR)

Consider GPOR’s one-year daily performance chart below.

Click to enlarge

GPOR has trended higher (red line), well above its 200-day moving average (yellow line) over the past year, showcasing the bullish momentum behind the stock. Recently, the stock has encountered some profit taking pressures in an attempt to summit $70 a share; GPOR has traded lower the last two days and it appears poised to retest its support around $60 a share. This support level (blue line) is significant seeing as how GPOR managed to rebound off it in late September of this year.

Cabot Oil & Gas (NYSE:COG)

Consider COG’s one-year daily performance chart below.

Click to enlarge

COG remains in a solid uptrend, trading well above its 200-day moving average for the past year. From a long-term perspective, COG’s price pattern is similar to that of GPOR; however, this stock has endured a longer, more gradual, pullback over the last month. COG appears to be finding support around $36 a share (red line), which is the same level that served as an area of resistance up until late July of this year. Traders should be cautious, as this security may retest support around its 200-day moving average over the coming days before resuming its longer-term uptrend.